Freightcar America (NASDAQ:RAIL) Cut to “Hold” at Wall Street Zen

Freightcar America (NASDAQ:RAIL) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other research analysts have also issued reports on RAIL. Zacks Research raised Freightcar America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings lowered shares of Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.00.

Freightcar America Price Performance

RAIL opened at $9.06 on Friday. The company has a market capitalization of $172.86 million, a price-to-earnings ratio of 3.43 and a beta of 1.66. Freightcar America has a 1-year low of $4.31 and a 1-year high of $13.64. The business has a 50 day moving average price of $8.84 and a two-hundred day moving average price of $9.15.

Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings results on Monday, November 10th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.08. Freightcar America had a negative return on equity of 17.35% and a net margin of 17.40%.The company had revenue of $160.51 million for the quarter, compared to analysts’ expectations of $157.25 million. Equities analysts expect that Freightcar America will post 0.09 EPS for the current fiscal year.

Institutional Trading of Freightcar America

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC acquired a new stake in shares of Freightcar America during the third quarter worth approximately $2,007,000. North Star Investment Management Corp. purchased a new stake in Freightcar America in the 2nd quarter worth approximately $1,498,000. Russell Investments Group Ltd. lifted its position in Freightcar America by 435.5% in the 1st quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company’s stock worth $782,000 after buying an additional 114,945 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Freightcar America during the 2nd quarter valued at $813,000. Finally, Legato Capital Management LLC purchased a new position in shares of Freightcar America during the 3rd quarter valued at $582,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

About Freightcar America

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.